The net proceeds of the Offering are expected to be used by the Company for the development, expansion and working capital requirements of the Mercedes and South Arturo mines and the McCoy-Cove project, and for general corporate and working capital purposes and may also be used to reduce indebtedness under Premier’s revolving term credit facility.
We have several projects on our acquisition pipelines within the Mexican Mining Industry in the Precious Metals Sector, including brownfields projects near existing operations, some of the largest undeveloped gold deposits in the Country of Mexico. Negotiate mutually beneficial Joint Ventures with high-quality junior exploration companies.
Silver Viper’s President and CEO Steve Cope states, “The ongoing results from La Virginia are exciting. We believe that adding a second drill to target the new anomalies is warranted at this time.”
“The extension and geochemical expression of the Fermin project is similar to distal marble fronts associated to known Cu-Au skarn systems of the Central Andes. These results are highly encouraging to keep our exploration efforts looking for high grade skarn close to the causative porphyry intrusion commented Ruben Padilla, Sable’s VP of Exploration”
Taj Singh, President and CEO, states: “We are pleased with this second set of drill results, as it further validates the near-surface high-grade potential at Cordero. Drilling completed to-date clearly shows that there is excellent continuity and higher grades within the breccia-hosted mineralization. With the addition of two new drill rigs in January, we are excited to now have four drill rigs turning at Cordero and we look forward to the results from this increase in drill activity over the next few quarters.”
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